Funding arb · Price arb /

VIRTUAL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: edgeX against KuCoin−0.001%7-day average −0.049% · you buy dearer than you sell

Net, funding: paid 7d − costs−$55as in the Funding arb table

Net, price: spread back to 7d avg − costs−$52as in the Price arb table

costs, in and out, $10k−$560.563% of the position

Long on KuCoin Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.017%+$2 on $10k

Price spread, last 4 days (all we have)+0.085%+$8 · spread now −0.001%, 7d avg −0.049%

Together, before fees+0.102%+ Points / potential airdropedgeX: Active · farm board+$10 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: edgeX is 0.047% dearer against KuCoin than usual: you sell high and buy low, +$5 on $10k if it goes back to its 7-day average of −0.049%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin VIRTUALUSDTM	0.7145	0.0100	pay 0.0050% / 4h	1h 49m	$3.4M	$4.5M	50x
Short	edgeX VIRTUALUSDC	0.7145	0.0100	get 0.0050% / 4h	1h 49m	$19K	$257K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against KuCoin. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee KuCoinbpFee edgeXbpOrdersPrice spread, now −0.001%Rate

Funding earned: $0
Price spread: −0.001% → −0.049%: $4.74
Slippage, 4 orders: −$35.31
Fee KuCoin: 6 bp × 2 orders: −$12
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$51.56
Costs to cover: 0.563%
Break-even: never at this rate

Slippage from KuCoin: live order book, 1 min ago; edgeX: live order book, 61 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy KuCoin live order book, 1 min ago	2.10 bp	22.3 bp −$22	60.9 bp −$609	doesn't fit	doesn't fit
Sell edgeX live order book, 61 min ago	2.79 bp	9.1 bp −$9	68.7 bp −$687	doesn't fit	doesn't fit

VIRTUAL on 33 exchanges

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Deribit VIRTUAL_USDC-PERPETUAL	−0.0310%	1h	0.7145	0.000%	$25K	$40K	10x	as long as short
ApeX Omni VIRTUALUSDT	−0.0194%	1h	0.7152	+0.098%	$40K	$234K	50x	as long as short
Lighter VIRTUAL	−0.0192%	1h	0.7143	−0.032%	$325K	$368K	5x	as long as short
Reya VIRTUALRUSDPERP	−0.0139%	1h	0.7145	−0.007%	$24	—	10x	as long as short
SoDEX VIRTUAL-USD	−0.0128%	1h	0.7145	−0.007%	$1K	$9K	5x	as long as short
Phoenix VIRTUAL	−0.0111%	1h	0.7146	+0.007%	$11K	$32K	5x	as long as short
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0006%	1h	0.7157	+0.162%	$22K	—	150x	as long as short
Injective VIRTUAL/USDC PERP	+0.0033%	1h	0.7117	−0.392%	$46	$88K	5.5x	as long as short
Variational Omni VIRTUAL	+0.0052%	4h	0.7143	−0.032%	$678K	$816K	—	as long as short
Kraken Futures PF_VIRTUALUSD	+0.0064%	1h	0.7156	+0.147%	$560K	$748K	50x	as long as short

Show all 33 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_VIRTUAL_USDC	+0.0086%	4h	0.7143	−0.028%	$15K	$1.8M	10x	as long as short
Hyperliquid VIRTUAL	+0.0100%	1h	0.7157	+0.162%	$8.9M	$3.6M	5x	as long as short
Aster VIRTUALUSDT	+0.0100%	4h	0.7148	+0.048%	$91K	$306K	20x	as long as short
Pacifica VIRTUAL	+0.0100%	1h	0.7143	−0.028%	$70K	$40K	5x	as long as short
Binance VIRTUALUSDT	+0.0100%	4h	0.7146	+0.009%	$16.0M	$40.6M	75x	as long as short
Bybit VIRTUALUSDT	+0.0100%	4h	0.7146	+0.014%	$16.6M	$18.4M	50x	as long as short
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7148	+0.042%	$2.8M	$9.7M	20x	as long as short
Gate VIRTUAL_USDT	+0.0100%	4h	0.7146	+0.014%	$1.5M	$3.1M	75x	as long as short
MEXC VIRTUAL_USDT	+0.0100%	4h	0.7146	+0.014%	$14.8M	$5.1M	100x	as long as short
KuCoin VIRTUALUSDTMlong	+0.0100%	4h	0.7145	long leg	$3.4M	$4.5M	50x
Bitget VIRTUALUSDT	+0.0100%	4h	0.7148	+0.042%	$6.1M	$5.4M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	0.7146	+0.014%	—	$7.8M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7145	0.000%	$244K	$177K	10x	as long as short
edgeX VIRTUALUSDCshort	+0.0100%	4h	0.7145	−0.001%	$19K	$257K	10x
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7151	+0.085%	$632K	$1.4M	10x	as long as short
Polymarket Perps VIRTUAL-USD	+0.0100%	1h	0.7150	+0.070%	$47K	$996K	5x	as long as short
SunX VIRTUAL-USDT	+0.0100%	4h	0.7147	+0.028%	$1K	$1.3M	20x	as long as short
Extended VIRTUAL-USD	+0.0104%	1h	0.7142	−0.040%	$54K	$306K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7142	−0.039%	$18K	—	3x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0312% / S −0.0258%	1h	0.7155	+0.137%	$32K	—	100x	as long as short
BloFin VIRTUAL-USDT	+0.0340%	4h	0.7147	+0.028%	$781K	$924K	75x	as long as short
Coinbase International VIRTUAL-PERP-INTX	+0.0480%	1h	0.7193	+0.672%	$202K	$96K	50x	as long as short
01 Exchange VIRTUALUSD	+0.6200%	1h	0.7281	+1.903%	$2K	$27	10x	as long as short